Dukascopy - Analytics

    Dukascopy

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    Real

    EUR/USD inches higher

    © Dukascopy Bank SA
    "Draghi is fully committed to QE and that should continue to debase the euro."
    - Swissquote Bank SA (based on Bloomberg)

    Pair's Outlook
    The short-term outlook for EUR/USD remains bullish. Yesterday, we have observed a positive move of the common currency in the direction of 2003 low / weekly PP at 1.0750, even though initially bears attempted to push the Euro downwards. However, for the forecast to remain bullish in the medium-term as well, the pair should close above monthly PP at 1.0811. Otherwise, if the pair fails to rise at least above 1.0735, there will be a higher risk of sell-offs with a target at 1.0520 (Bollinger band) by the end of this week. 

    Traders' Sentiment
    The total number of bullish opened positions at the SWFX market remains positive at 55% in the morning on Thursday, up one percentage point during past 24 hours.

    © Dukascopy Bank SA

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